More and more couples have been looking into prenuptial agreements and postnuptial agreements for their marriages. With the rising divorce rate in America, this is to be expected. Of course, individuals want to be able to protect themselves, their assets and possessions as much as possible in the case that their marriage doesn’t last. This is something our Walnut Creek prenuptial and postnuptial agreement law firm knows very well.
Although most people don’t want to consider that scenario, divorce is a real possibility for many reasons. Your family law attorney is here to explain the difference between prenuptial agreements and postnuptial agreements so that you know which is best to implement for your protection.
What You Need to Know About Prenuptial Agreements in California
Here’s the main thing to remember about prenuptial agreements: Prenups allow couples to make important financial arrangements before they get married. If you get divorced in the future, this contract works to prevent long, drawn-out financial battles during your divorce.
There are some cases where people have not handled their prenup agreements the right way, which will eventually lead to court battles in the future.
To understand the guidelines for this type of agreement, you should refer to The California Premarital Agreement Act and/or consult with an attorney to guide you in the right direction.
Here are some of the things that you should consider about prenups (and factors that your prenuptial and postnuptial agreement lawyer would remind/advise you about along the way):
• Prenups are voluntary, meaning that both parties must agree to take part in constructing your prenuptial agreement. So, you’ll need legal counsel to support that fact, or at the very least a clear and independent waiver must exist.
• The agreement may not favor one party grossly over the other. It should be a reasonably fair agreement.
• The arrangement must not violate public policies, meaning that it shouldn’t involve unreasonable goals for one partner to meet or allow a partner to break the law. It also shouldn’t encourage a divorce with monetary payments in the case that a divorce does take place.
• Finally, a prenup does not work to waive child support payments.
What You Need to Know About Postnuptial Agreements in California
Prenups and postnups can be easily confused because of they both deal with the protection of financial assets and protections in a marriage and in the case of a divorce. The main thing to remember about postnups is that this is the agreement that takes place after a marriage is over, ending in divorce. So, this is a contract that is agreed upon while going through a divorce, allowing specific factors to be stated, including:
• Stating the fiduciary duty that you and your spouse have to one another.
• The agreement must be fair to each of the parties.
• Remember, the court will view this agreement as something similarly drafted up between business partners, not romantically involved persons.
• It’s critical to disclose all financial information when drafting this agreement because withholding information will actually be frowned upon in court.
• Finally, it’s important that both parties are in good health to consent willingly and shouldn’t be under any coercion.
You Need an Attorney to Facilitate Both Agreements
One thing that prenups and postnups have in common is the need for a local attorney to help manage both types of contracts. Your attorney acts as a mediator in these situations, giving an objective view of the agreements as well as providing sound legal advice and handling all of your necessary paperwork. Contact our prenuptial and postnuptial agreement attorneys today if you have a question about an existing prenuptial agreement or if you’re interested in drafting a postnup!